Indian stock markets, including the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), will be closed on November 15, 2024, in observance of Guru Nanak Jayanti. This holiday marks the birth anniversary of Guru Nanak, the founder of Sikhism, and is one of the most significant celebrations for the Sikh community.
Amid the celebrations of Guru Nanak Jayanthi 2024 across the country, some stock market investors are confused whether the Indian stock market will remain closed.
Indian stock exchanges BSE and NSE will be closed for trading on Friday, November 15 due to Guru Nanak Jayanti. India’s largest non-agri commodity exchange Multi Commodity Exchange (MCX) will be closed in the first session between 9 am and 5 pm while trading will resume in the evening session between 5 pm and 11:30/11:55 pm.
The National Commodity and Derivatives Exchange (NCDEX), an agri-exchange, will be closed in both morning and evening sessions.
To avoid such confusion, people are advised to visit the BSE website — bseindia.com and click on the ‘Trading Holidays’ option at the top. After clicking on ‘Trading Holidays’ option, the complete list of stock market holidays in 2024 opens. There are three stock market holidays in November 2024 in this list of stock market holidays. One of these three stock market holidays in November 2024 is Lakshmi Puja on 1st November 2024. The following two stock market holidays fall on 15th November 2024 for Guru Nanak Jayanti 2024 and 20th November 2024 Maharashtra Assembly General Elections.
Earlier, there were only two stock market holidays in November 2024. However, due to the announcement of Maharashtra Assembly General Elections on 20 November 2024, BSE and NSE declared a stock market holiday on 20 November 2024.
As per BSE Holiday Calendar, trading holidays have been declared for 16 days in 2024. So far this year, it has been shut down on 13 occasions. The last time they were closed was on Friday, November 1 for Lakshmi Pujan.
Next, markets will be closed for Christmas on Wednesday, December 25.
On Thursday, the Nifty was trading down 37 points or 0.16% at 23,522.30 around 2 pm. If the market ends in the red today, it will be its sixth consecutive loss. During this period, it has fallen by 954 points or more than 4 percent.
The current weakness is due to incessant selling by foreign institutional investors (FIIs) and market experts see further correction from current levels.
The Nifty has fallen 10 percent from a record high of 26,277 on September 27 and analysts are now targeting as low as 21,300 for India’s headline index. Generally, a 10% drop is considered a correction zone and a 20% drop from the top will officially put Dalal Street in a bear market zone.
In the previous trading session, the Nifty breached its 200-DMA in intra-day trading and touched a 5-month low near 23,500.
FIIs have taken Nifty’s September peak from Dalal Street to a record Rs. 1.2 lakh crore has been withdrawn as weak Q2 earnings lead to a downgrade.